The following article if from Mr Moneybanks at He’s a qualified accountant who has been writing about personal finance for the past 5 years. He wants to give real and practical advice on how to grow wealth. Come and join him on the journey.

The following article discusses my ambitions in life my motivations for writing a personal finance blog and overall reasoning for my high financial goals. I encourage readers to challenge my views:

An Honest Account

I have wanted to be rich ever since I can remember. I cannot identify why in my youth I had such a strong drive for this goal. Maybe it was due to a general culture, the product of advertising and media. Potentially it was due to attending a private school. Whilst my family were by no means wealthy, being surrounded by wealthy friends and their families (and all their extravagance) may have generated aspiration and a belief in what might be possible to achieve. Whatever the reason the idea stuck.

The Rich Reasons

Nowadays I am more clear on my goals and reasons for them.

Firstly, I don’t want to work for the rest of my life. I want to enjoy my life. I want to travel the world. I want to do charity work. I want to help people. I want to write. I want to make my mark on the world. By building up my capital to a level whereby I don’t need to work frees me up to do other things with my time. The general goal is to be free from working by the time I am 50.

Secondly, I want to live a comfy lifestyle. This isn’t anything overly extravagant; however, I want to be able to go abroad whenever I want. It is my dream to AirBnB travel the world with my fiancé in retirement. This ambition will require a large cash flow, particularly from revenue streams that aren’t from my job.

I also want to build a house designed by myself in the suburbs. Based on my specifications (indoor swimming pool, large and open plan living area, customized rooms etc) this will require anywhere between £5-£10 million in today’s money.

Thirdly, I am a believer in inter-generational progression. My dad’s dad was a baker and lived a humble life. He wanted my dad to go to university, something he was never given the opportunity for. My grandparents worked extremely hard and were able to send my dad to University. Eventually my dad became a family doctor. My dad and my mum provided me with a better upbringing than they had. I feel it would be a disservice to him if I did not progress the family even further and give my children an even better upbringing than I had. I suppose it’s a little bit like elevating the family up through the class system over generations.

Fourthly, I think I use money as a personal point system in the game of life. In my head I am performing better in life the more money I have. I think that many would frown upon this idea thinking me greedy. However, this is not the case. Money is not necessarily for material gains or for money itself, instead it is a marker for my own personal progress. This is much like Warren Buffett’s philosophy. He too appeared to accumulate money to mark his impressive progress, yet he lives a fairly humble lifestyle.

What are your reasons for wanting to get rich? I realise some of my reasons for wanting to become rich may seem a little selfish. Is that a problem? What are your thoughts? Do you agree with my reasons?

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